Primary read
Bullish
Call-side pressure
Ticker Options Intelligence
SRE options intelligence
Sempra Energy options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
43
Market data through 11 Aug 2026
Checked 12 Aug 2026 11:22 · complete available chain
Call-side pressure
Bullish pressure
SRE currently carries bullish options pressure with a 43/100 conviction score. The nearest-chain expected move is 3.2%, with volume/open-interest participation at 0.01.
Expected move
3.2%
Near-term move context
Activity / OI
0.01
Current volume is quieter versus prior open interest
Put-call
0.07
Call-side skew
Trend fit
0
Options are not fully confirming trend
Weekly backdrop
-5.3%
RS -16.3
Expected move
3.2%
Put-call volume
0.07
Volume / OI
0.01
Reference IV
0.23
Max pain
90.00
Underlying
83.88
Nearest expiry
21 Aug 2026
Contracts
188
Research Brief
SRE has a bullish chain read with 43/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 81.20–86.56; The largest call open-interest concentration is 95.00; the largest put concentration is 90.00. The most active strike by current volume is 90.00.
Priced range81.20–86.56
Call concentration95.00
Put concentration90.00
Max pain reference90.00
- Price holds or improves while call-side concentration remains elevated.
- Price weakens while call pressure fades or reverses toward puts.
- Options and the weekly trend are not yet giving the same message.
Priced Move
Where the chain says movement becomes exceptional
Options imply 81.20 to 86.56. Max pain at 90.00 lies outside the priced range, so it is a weak near-term anchor.
Spot
Max pain
81.2083.88 ± 2.6886.56
Confirmation level
A close beyond 86.56 or below 81.20 at the 21 Aug expiry would exceed the move currently priced by this chain.
Important limitation
The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.
Score Construction
Why conviction is 43/100
Pressure is 95/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure95 × 42%
+39.7
How strongly activity leans toward calls or puts.
Participation2 × 22%
+0.5
Volume relative to existing open interest and contract-level activity.
Trend agreement0 × 26%
+0.0
How closely the chain read agrees with the underlying trend backdrop.
Volatility29 × 10%
+2.9
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 95.00; the largest put concentration is 90.00. The most active strike by current volume is 90.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
4
50.00-40.4%
0
5
55.00-34.4%
0
6
60.00-28.5%
0
32
65.00-22.5%
1
42
70.00-16.5%
5
65
75.00-10.6%
0
520
80.00-4.6%
7
411
85.001.3%
56
654
90.007.3%
264
21
95.0013.3%
1990
0
100.0019.2%
1672
0
105.0025.2%
1452
0
110.0031.1%
724
0
115.0037.1%
39
0
120.0043.1%
4
0
125.0049.0%
5
0
130.0055.0%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Gamma Profile by Strike
Balanced gamma proxy
Call- and put-side gamma sensitivity is broadly balanced across the retained chain. Individual strike concentrations may still matter more than the chain-wide net.
Net profile-$197,375Delta change / 1% move
Positive peak95.00+$237,257
Negative peak85.00-$408,795
Nearest balance89.60Interpolated sign change
StrikeNegativePositiveNet / 1% move
50.00-40.4%
-$47
55.00-34.4%
-$186
60.00-28.5%
-$1,505
65.00-22.5%
-$4,410
70.00-16.5%
-$23,031
75.00-10.6%
-$45,214
80.00-4.6%
-$210,158
85.001.3%
-$408,795
90.007.3%
+$35,669
95.0013.3%
+$237,257
100.0019.2%
+$89,981
105.0025.2%
+$110,138
110.0031.1%
+$17,025
115.0037.1%
+$968
120.0043.1%
+$1,049
125.0049.0%
+$2,074
130.0055.0%
+$98
135.0060.9%
+$388
140.0066.9%
+$1,322
Positive call-side proxy Negative put-side proxyHighlighted row is nearest spot strike
Scenario proxy = gamma × open interest × 100 shares × spot² × 1%. Calls are positive and puts negative by convention. Missing Greeks use a Black-Scholes estimate from stored IV with zero rate and dividend assumptions. Open interest does not reveal who is long or short, so this is not observed dealer positioning or a forecast.
Volatility Curve
Balanced volatility curve
Near- and longer-dated implied volatility are broadly aligned; no exceptional front-expiry premium is visible.
0.23
21 Aug
10d
0.26
18 Sep
38d
0.25
16 Oct
66d
0.25
20 Nov
101d
0.25
15 Jan
157d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
70
75
80
85
90
95
100
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 21 Aug 2026; its result will appear after the matched closing reference is stored.
Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
- Auditable calculationoriginal version retained
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Eligible snapshots must have a dated market session, stored signal, and point-in-time market reference. Each observation uses one read per market session and the first stored weekly close on or immediately after expiry; its original calculation version is retained. It is an evidence audit, not an executable strategy or evidence of future performance.
Evidence Quality
Usable with limits
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Complete available chain
- Market date
- 11 Aug 2026
- Calculation
- v2.0
- Contracts
- 188 / 188
- No material coverage gap was detected in the retained chain.
Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.
Options Intent Radar
Multi-expiry position-maintenance candidate
Activity is spread across expirations with heavier open interest than current volume, which can be consistent with position maintenance.
Options are leaning call-side while the stock is down on the week, a divergence that needs price confirmation.
Multi-expiry position-maintenance candidate matters because it connects the options headline to the actual evidence: $31,942 of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow against weak price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+95
1W price-5.3%
Call premium92%
Put premium8%
Notional split
C 92% / P 8%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.01
Volume divided by open interest across the visible chain.
Trend fit
0/100
Agreement between options pressure and Sharemaestro market context.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Roll detection is conservative because opening and closing legs are not directly observable in this snapshot.
Calls · 91+ days · ITM
calls cluster with 2 contracts traded, $7,050 estimated gross traded notional, and 22% of visible notional.
$7,050
Calls · 22-45 days · OTM
calls cluster with 57 contracts traded, $6,982 estimated gross traded notional, and 22% of visible notional.
$6,982
Calls · 91+ days · ATM
calls cluster with 7 contracts traded, $3,990 estimated gross traded notional, and 12% of visible notional.
$3,990
Calls · 91+ days · OTM
calls cluster with 20 contracts traded, $3,148 estimated gross traded notional, and 10% of visible notional.
$3,148
Calls · 8-21 days · ATM
calls cluster with 12 contracts traded, $1,890 estimated gross traded notional, and 6% of visible notional.
$1,890
Setup Classification
Opportunity and risk frame
Options positioning is not confirming the underlying trend context.
Activity Anomaly
Quiet tape
Activity is muted versus this ticker's stored history.
Baseline: 10 completed sessions
Volume rank30th
Volume/OI rank30th
IV rank0th
Market Context
Underlying confirmation
Close83.88
1W-5.3%
RS-16.3
Fair value+8.0%
Options pressure95
Speculation2
Volatility29
Trend fit0
Today Versus Normal
Stored-options context
30d avg 6.2% · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.33 · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.84 · 10 sessions
0th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
30d avg 0.04 · 10 sessions
30th
90d avg - · 10/30 sessions
-
180d avg - · 10/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 10:06
Bearish
Pressure -32
Move 7.3%
30 Jul 10:04
Bullish
Pressure 22
Move 7.5%
31 Jul 10:02
Mixed
Pressure -1
Move 7.7%
1 Aug 20:22
Bullish
Pressure 97
Move 5.8%
2 Aug 11:33
Bullish
Pressure 62
Move 5.8%
4 Aug 10:00
Mixed
Pressure -3
Move 5.9%
5 Aug 10:03
Mixed
Pressure 9
Move 5.8%
6 Aug 10:02
Bullish
Pressure 20
Move 7.0%
Strike Map
Where activity is clustering
Strike50.00
Calls · V 0 · OI 0
Puts · V 0 · OI 4
Strike55.00
Calls · V 0 · OI 0
Puts · V 0 · OI 5
Strike60.00
Calls · V 0 · OI 0
Puts · V 0 · OI 6
Strike65.00
Calls · V 0 · OI 1
Puts · V 0 · OI 32
Strike70.00
Calls · V 0 · OI 5
Puts · V 0 · OI 42
Strike75.00
Calls · V 0 · OI 0
Puts · V 0 · OI 65
Strike80.00
Calls · V 0 · OI 7
Puts · V 0 · OI 520
Strike85.00
Calls · V 12 · OI 56
Puts · V 1 · OI 411
Term Structure
Expiration activity
Expiry21 Aug 2026
Contracts36
Avg IV0.23
Put-call0.01
Expiry18 Sep 2026
Contracts38
Avg IV0.26
Put-call0.08
Expiry16 Oct 2026
Contracts38
Avg IV0.25
Put-call-
Expiry20 Nov 2026
Contracts38
Avg IV0.25
Put-call0.14
Expiry15 Jan 2027
Contracts38
Avg IV0.25
Put-call0.27
Skew
Call/put IV balance
21 Aug 2026Put IV premium
Call IV0.27
Put IV0.39
Skew0.12
18 Sep 2026Balanced skew
Call IV0.25
Put IV0.27
Skew0.02
16 Oct 2026Put IV premium
Call IV0.21
Put IV0.28
Skew0.07
20 Nov 2026Balanced skew
Call IV0.24
Put IV0.29
Skew0.05
15 Jan 2027Balanced skew
Call IV0.23
Put IV0.28
Skew0.05
Contract Tape
Most active contracts
ContractSRE260821C00090000
SideCall
Expiry21 Aug 2026
Strike90.00
Volume59
OI264
IV0.27
ContractSRE260918C00090000
SideCall
Expiry18 Sep 2026
Strike90.00
Volume57
OI633
IV0.25
ContractSRE261120C00095000
SideCall
Expiry20 Nov 2026
Strike95.00
Volume13
OI183
IV0.24
ContractSRE260821C00085000
SideCall
Expiry21 Aug 2026
Strike85.00
Volume12
OI56
IV0.23
ContractSRE270115C00085000
SideCall
Expiry15 Jan 2027
Strike85.00
Volume7
OI31
IV0.21
ContractSRE260918C00085000
SideCall
Expiry18 Sep 2026
Strike85.00
Volume6
OI233
IV0.25
ContractSRE270115C00100000
SideCall
Expiry15 Jan 2027
Strike100.00
Volume5
OI68
IV0.23
ContractSRE260918P00075000
SidePut
Expiry18 Sep 2026
Strike75.00
Volume5
OI28
IV0.33
Research Graph
Related research and context
Sharemaestro research
Related News
No recent ticker-specific news yet.
Market Watch
No recent market-watch posts yet.
Earnings
No upcoming matched earnings event.
Plain English Guide
Options context
What usually looks constructive
What usually looks cautious
Options can move quickly and can lose value fast. Treat this as research context, not a buy or sell instruction.